Doctor of Philosophy (Business) student Oliver Hannon is a winner of the 2021 Natoli Student Ethics Competition for a postgraduate student.
Kylie Porter’s foreword for the GCNA’s Guide for Senior Leaders not only outlines the very novel and nascent mindset that has emerged regarding the “alignment between purpose and profit” - what Martyn Myer AO of the Myer Foundation referred to as the Shared Value thesis. The GCNA foreword, and their fundamental Ten Principles (some of which elucidate the UN’s own 2030 Agenda and Sustainable Development Goals), also herald something far more indicative of today’s ethical business zeitgeist.
With the especially Australian sentiment of “a fair go”, Porter paints a picture of “sustainability” that is far more comprehensive and accessible to investors of today. Sustainability initiatives have moved towards addressing not only Environmental, but also Social inequities and Governance (ESG) issues in approach, and welcome an emphasis on disclosure and a “sincere connection with stakeholders”, as it is put by Greenstone+ making reference to the 2021 letter to CEOs from Blackrock’s Larry Fink.
Australian industry representatives have also begun facilitating such pursuits in our own markets by providing guidelines for ESG reporting. Australian tech is also “having a crack”, with innovators like Socialsuite filling the same gap measuring social impact with a resounding reception from ASX heavy hitters. And with Australian players, new and old (from ZipCo to Wesfarmers), addressing ASX recommendations on matters of diversity, modern slavery, and even whistleblower policy, there seems to be a trending ESG demand emerging (and on issues) close to home.
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